What is the objective of IFCI?
Answers
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The main objective of IFCI is to provide medium and long-term financial assistance to large scale industrial undertakings, particularly when ordinary bank accommodation does not suit the undertaking or finance cannot be profitably raised by the concerned issue of shares.
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Main objective of IFCL is to assist entrepreneur for industrial development in India.
Explanation:
IFCI stands for Industrial Finance Corporation of India ltd. IFCL is the Indian bank owned by the government. It is the development bank which allots loans to the entrepreneur for industrial development for the long term. Before 1991, IFCI was solely responsible for implementing industrial policies in India.
Objectives:
- To provide short term and long term finance assistance.
- To grant loan in foreign currencies as well.
- To assign underwriters for bonds and shares
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